Talking Point: Joining the green revolution
Coventry University’s John Latham discusses the opportunities presented by the low carbon economy.
Few businesses in this day and age do not have sustainability and environmental concerns near the top of their agenda. Many of those businesses, however, may not have considered the opportunities presented by the transition to a low carbon economy - particularly those not directly involved with environmental technologies.
The low carbon economy is one of the fastest growing sectors in the UK, with over £2bn worth of business opportunities identified in the Coventry region alone. These opportunities are available not only to large technology and engineering companies, but also to small and medium enterprises - and universities are ideally placed to help these businesses take advantage of the drive towards a green economy.
In these times of economic uncertainty and significant public sector cuts many organisations are struggling to identify investment for new areas of development and innovation. By working in partnership with a university, businesses can develop new, innovative products and services which research has proven to be effective, thus reducing the risk of failed investment. It is not just the obvious industries or academic fields that are able to get involved; the low carbon agenda has an impact throughout society and the economy.
One of the major strengths of a university is the ability to bring together the right group of people with appropriate expertise and sufficient resources. Often researchers and businesses may be working on the same problems in isolation, so joining forces will strengthen the offering and when applying for funding will provide the entire package of skills and resources needed to see a project through from beginning to end.
Universities can build on their existing strengths in expertise and research, building on the links already in place with business and industry. For example, Coventry University has an established strength in the automotive industry having existing relationships with some of the region's major car manufacturers such as Jaguar Land Rover and Tata. To take advantage of the growing low carbon economy we are now looking at developing our expertise specifically within low carbon vehicle technology including engineering and technology aspects, design of vehicles and an understanding of the user experience and perception.
Organisations which would not ordinarily consider becoming involved with the low carbon economy often have the most to gain from such partnerships. Universities can provide a new perspective on their business to see how they can take advantage of the available opportunities.
As well as the intellectual property available within universities we can also offer businesses space and resources that would otherwise be very expensive to come by in the commercial world.
At the beginning of December Coventry University launched a Hydrogen Fuelling Station at its Technology Park as part of the CABLED project (Coventry and Birmingham Low Emissions Demonstrator). This fuelling station is a vital part of a major initiative that will evaluate user experience of a variety of low carbon vehicles and the university was able to provide the space and resources needed to set this up.
By working in partnership businesses and universities will be able to drive innovation and development of low carbon initiative in spite of the uncertain economic climate. Continuing to invest in this area can boost regional economies and establish the UK as a world leader in the low carbon economy. Now is the time to be thinking about what opportunities the green revolution can offer to you and your business.
John Latham is deputy vice-chancellor for business development at Coventry University
